During the fourth quarter of 2007, Lupin had received an additional income of Rs 75 crore from the sale of the intellectual property assets of the drug Perindropil to Servier of France.

Net sales of the company stood at Rs 750.3 crore for the quarter, 41 per cent higher than the Rs 531.8 crore posted in the previous comparative period, as per the unaudited financial results.

Net profit for the year ended March 2008 increased by 32 per cent to Rs 408.3 crore from Rs 308.6 crore in the corresponding previous year. The Company reported a 34 per cent rise in revenues for the year ended March 2008, from Rs 2071.7 crore in FY 2006-07 to Rs 2773 crore for the financial year of 2007-08.

Export revenues rose by 52 per cent for the year to Rs1529.2 crore, which included formulation exports to advanced markets worth Rs 903.8 crore. Revenues from domestic markets were up at Rs 1243.7 crore with an increase of 16 per cent. Sales to advanced markets grew 102 per cent, clocking in revenues of Rs 974.5 crore (Rs 482.8 crore).

Lupin Pharmaceutical Inc, the company's US subsidiary, reported a 103 per cent growth in sales to Rs 720.5 crore for the financial year.

"We hope to achieve a 40 per cent increase in revenues and net profits in this financial year, through both organic and inorganic growth, said DB Gupta, chairman, Lupin Ltd.

He said the company is also targeting to acquire a manufacturing asset in Japan, where it acquired over 90 per cent stake in Kyowa Pharma for about $58 million.

Lupin is also targeting acquisitions and growth in about six new emerging geographies such as Latin America,Miiddle East and neighbouring countries.

According to Vinita Gupta, president of Lupin Pharmaceuticals Inc, the company is also targeting to buy a formulations company in the US to increase its market share. Lupin has a total of 15 products on the US market, of which four are market leaders. The Company also aims at establishing strategic alliances with select trade partners to strengthen its direct to market approach, she said.

Lupin's share prices increased by 3.06 per cent on the Bombay Stock Exchange (BSE) today to close at Rs 581.85.